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Businessman talking on his mobile phone as he walks along a street in the city's banking quarter, close to Paradeplatz, passing part of the complex housing UBS, Switzerland's largest bank. The Swiss banking industry holds an estimated 6,352 billion Swiss Francs (USD 7,000 billion) in assets, more than half of it foreign, including CHF 880 billion in undeclared European assets alone, benefiting from the country's famous banking secrecy laws.